VANCOUVER, June 4, 2018 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS) (TSX: PAAS) (the "Company") today
announces that the security situation on the access roads to the
Dolores mine has improved following increased patrol and
enforcement by the Mexican authorities. As a result, road transport
of diesel fuel, cement and other supplies to the mine has now
resumed. The Company will increase the use of its private, secured
airstrip to transport people to and from the mine site until the
situation normalizes.
Due to the suspension of personnel transport on the access roads
and reduced staffing levels, in late May the Company curtailed
certain activities, including underground and open pit mining and
leach pad expansion. Production of silver and gold continues at
normal rates due to the large reserve of high and low grade ore
stockpiles, which are feeding the pulp agglomeration plant and
partial operation of the crushing plant. The heap leaching and
Merrill Crowe circuits continue to
operate normally. At this time, the Company does not expect a
material impact to its annual production guidance for 2018.
"We would like to express our gratitude to the Federal and
Chihuahua State authorities in Mexico for their support and rapid deployment
of resources to secure the access roads to our Dolores mine, and we
will continue to work closely with them as we move forward," said
Michael Steinmann, President and
Chief Executive Officer of the Company.
About Pan American Silver
Pan American Silver Corp. is
the world's second largest primary silver producer, providing
enhanced exposure to silver through a diversified portfolio of
assets, large silver reserves and growing production. We own and
operate six mines in Mexico,
Peru, Argentina and Bolivia. We maintain a strong balance sheet,
have an established management team with proven operating
expertise, and are committed to responsible development. Founded in
1994, Pan American Silver Corp. is headquartered in Vancouver, B.C. and our shares trade on NASDAQ
and the Toronto Stock Exchange under the symbol "PAAS".
For more information, visit: www.panamericansilver.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
Certain of the statements and information in
this news release constitute "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among
other things, the ability of the Company to continue its normal
operations at the Dolores mine. These forward-looking statements
and information reflect the Company's current views with respect to
future events and are necessarily based upon a number of
assumptions that, while considered reasonable by the Company, are
inherently subject to significant operational, business, economic
and regulatory uncertainties and contingencies.
The Company cautions the reader that forward-looking statements
and information involve known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied by such
forward-looking statements or information contained in this news
release and the Company has made assumptions and estimates based on
or related to many of these factors. Certain of these factors are
identified under the caption "Risks Related to Pan American's
Business" in the Company's most recent form 40-F and Annual
Information Form filed with the United States Securities and
Exchange Commission and Canadian provincial securities regulatory
authorities, respectively. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. Forward-looking statements and
information are designed to help readers understand management's
current views of our near and longer term prospects and may not be
appropriate for other purposes. The Company does not intend, nor
does it assume any obligation to update or revise forward-looking
statements or information, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the
extent required by applicable law.
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SOURCE Pan American Silver Corp.